Direct deposits starting to go out now, paper checks to be mailed soon.
TRENTON – Governor Phil Murphy and Treasurer Elizabeth Maher Muoio announced that the first batch of ANCHOR Property Tax Relief rebate payments will be on their way to New Jerseyans who elected their rebate via direct deposit today.
More than 800,000 New Jersey taxpayers will receive a direct deposit of their ANCHOR rebate payment today. Following the issuance of the direct deposit payments, paper checks will begin to be mailed during the first week of April, in batches of mailings.
“At a time when families are facing increasing pressure on their wallets, it’s a good feeling to know we are following through on our promise to make New Jersey more affordable,” said Governor Murphy. “This is real relief getting sent to more of our hardworking taxpayers than ever before, proof that a future we are determined to make more affordable and full of opportunity is possible.
“When the Governor and the Legislature created the ANCHOR program, we knew it would be a game changer for residents all over the State,” said Treasurer Muoio. “I’m so pleased that money is going back into the pockets of more New Jerseyans than ever before.”
The Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) property tax relief program updates and expands upon the former Homestead Benefit property tax relief program by extending eligibility to renters for the first time in a generation, as well as increasing the income threshold for eligible homeowners. Established in the Fiscal Year 2023 State budget, Governor Murphy has proposed continuing the full $2 billion in funding for Fiscal Year 2024 in the upcoming budget.
“We made property tax relief a top priority in our budget and we delivered the largest property tax relief program in state history. The ANCHOR Program expanded eligibility to more families and increased the amount given to historic highs,” said Assembly Speaker Craig J. Coughlin. “As we continue to make New Jersey more affordable, we will build on this success.”
“It is great to see the checks getting out the door and into the hands of hardworking residents. As many families struggle to make ends meet, the ANCHOR program will provide much needed assistance to both homeowners and renters,” said Senate President Scutari. “It is an important part of our ongoing commitment to making New Jersey more affordable and delivering meaningful property tax relief.”
More than 1.7 million New Jersey residents applied for the ANCHOR rebate program, including 1.25 million homeowners and over 514,000 renters. The majority of payments will be issued before May 3, 2023, with applications that need additional information potentially taking more time to finalize.
Residents who are concerned about not receiving a direct deposit today can check the status of their application and payment at https://www.nj.gov/treasury/taxation/anchor/index.shtml. If no payment is received by May 3, 2023, applicants should use the status inquiry link or call 1-888-238-1233 for more information. If the status says a payment has been made, but has not yet been received, taxpayers should call the hotline one week after a direct deposit was supposed to go out or two weeks after a check was supposed to be mailed.